True North Copper (ASX:TNC) has confirmed a new high-grade copper-gold structure at its Wallace North deposit in Queensland, with drill results highlighting significant resource growth potential.
- Diamond drilling reveals 24.5m at 2.17% Cu and 2.01g/t Au
- High-grade shoots remain open along strike and at depth
- Additional gold-copper mineralisation found at Wallace South, East, and Buena Vista
- Results underpin upcoming resource update and pre-feasibility study
- Technical studies to support mine planning underway
New High-Grade Shoot Emerges at Wallace North
True North Copper Limited (ASX:TNC) has struck a promising vein of high-grade copper-gold mineralisation at its Wallace North deposit within the Cloncurry Copper Project in Northwest Queensland. Diamond drilling from the 2026 program returned an impressive 24.5 metres at 2.17% copper and 2.01 grams per tonne gold, equating to 4.2% copper equivalent (CuEq). This includes a standout 3.3 metres grading 10.11% copper and 7.93 g/t gold (18.1% CuEq), confirming a new high-grade shoot that remains open both along strike and at depth.
The discovery builds on the strong 2025 drilling campaign and significantly enhances geological understanding of the deposit's structural controls. The mineralised shoot shows increasing thickness and grade with depth, underscoring its potential as a priority target for future drilling and resource expansion.
Expanding the Cloncurry Copper Corridor
Beyond Wallace North, True North Copper’s 2026 drilling program also identified additional gold-copper mineralisation at Wallace South, Wallace East, and Buena Vista prospects. These findings strengthen the emerging Wallace-Wynberg copper-gold corridor and reinforce near-mine growth opportunities within existing mining leases.
At Wallace South, a structurally complex gold-copper system, reverse circulation (RC) drilling intersected 31 metres at 0.22% copper and 0.49 g/t gold, with mineralisation open at depth and along strike. Meanwhile, exploration at Buena Vista revealed shallow gold mineralisation over a 270-metre strike length, with assays including 4 metres at 1.98 g/t gold and 0.06% copper. Wallace East drilling, though limited by water inflow, intersected narrow mineralised lenses consistent with the regional system.
Technical Work Supports Development Pathway
Diamond drilling has also delivered critical geological, metallurgical, and geotechnical data to underpin True North Copper’s pre-feasibility study (PFS) and reserve conversion workstreams, targeted for completion in the fourth quarter of 2026. The company is progressing metallurgical and geotechnical test programs through September to support mine planning and development studies.
Managing Director Andrew Mooney highlighted the significance of the results, stating they add confidence to resource growth and the longer-term underground potential of the system. The drilling has refined structural interpretations, identifying northwest offsets and priority follow-up targets, which will guide upcoming step-out drilling campaigns.
Next Steps Toward Resource Update and PFS
With the 2026 drilling now complete, True North Copper’s immediate focus shifts to releasing remaining assay results, interpreting geological data, and integrating these findings into resource updates and the PFS. Targeted follow-up drilling is planned to infill and extend the newly identified high-grade shoots at Wallace North, where mineralisation remains open to the north and along strike.
This drilling program complements the company’s broader three-platform growth strategy, which includes resource expansion at Mt Oxide, near-term development of the Cloncurry Copper Project, and ongoing exploration for district-scale IOCG systems in the region.
Bottom Line?
True North Copper’s latest drilling confirms a high-grade copper-gold shoot at Wallace North with open extensions, setting the stage for a resource update and advancing the Cloncurry project toward development milestones.
Questions in the middle?
- How will upcoming assay results influence the scale of the Wallace North resource update?
- What impact will metallurgical and geotechnical findings have on mine design and economics?
- Could the new structural interpretations unlock additional high-grade shoots beyond current targets?